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U.S. House Speaker John Boehner said Republicans would be willing to accept new tax revenue to reduce the nation’s budget deficit if it’s accompanied by a tax overhaul and changes to entitlement programs.

Speaking in Washington a day after President Barack Obama’s re-election, Boehner of Ohio said all sides are “closer than many think” to being able to revise the tax code.
“Shoring up entitlements and reforming the tax code -- closing special interest loopholes and deductions, and moving to a fairer, simpler system -- will bring jobs home and result in a stronger, healthier economy,” the speaker said, according to a prepared text.

“Mr. President, this is your moment,” Boehner said, according to the text.